Truck Lease Programs: A Quick Guide

February 12, 2022

Interested in truck lease programs and starting your own trucking business? Did you know 2021 was a record-setting year for starting a new business? Over 5.4 million business applications were submitted last year.

Since the start of the pandemic, millions of people have reevaluated their careers. They have prioritized flexibility and better pay.

With supply chain delays plaguing the country, trucking is a career path with long-term job security and competitive pay. If you are an experienced driver looking to build your own trucking business, leasing a truck may be the right option for you.

There are a lot of things to consider before signing a contract to lease your first truck. Keep reading to learn more about how Chief Carriers truck lease programs work.

Leasing vs. Driving

While being self-employed is a big dream for many drivers, purchasing a reliable truck can cost up to $40,000. This is a huge upfront investment and comes with a lot of added responsibility.

Generally speaking, there are three ways to become a truck driver:

  • You can drive for a company and give yourself time to learn about the business side of truck ownership.
  • You can lease a truck with the option to buy it from a carrier. Before signing a lease agreement it’s important to fully understand the terms of the lease.
  • You can lease a truck from an independent leasing company. While leasing from a third party gives you a level of freedom, your overall costs will be higher as a self-employed contract driver.

Truck Lease Programs

Truck lease programs give professional drivers a clear path to ownership. When drivers enroll in a lease-purchase agreement, they become independent contractors. This means that they immediately start making an owner-operator salary and have more flexible schedules.

Owner-operators are also financially responsible for covering a lot more expenses. Usually, this includes covering the costs of maintenance and repair, fuel, health insurance, and other expenses.

It’s important to do your research, talk with other drivers, and find a carrier partner that’s transparent and trustworthy.

Chief Carriers Lease Program Highlights

Chief Carriers offers two truck lease programs for professional drivers. Program highlights include paid plates and permits, an in-house maintenance account, and a 100% pass-through on fuel discounts.

The two distinct leasing options include:

  • Lease-Operator Program: This program offers a walk-away lease option. While you don’t own your own truck, you are able to choose home-time, pick your loads, and have an earning potential of $150-200K.
  • Lease-Purchase Program: Along with the freedom that comes with being an independent contractor, this option lets you own your own truck. It also comes with technical support a carrier company can provide.

Partner with Chief Carriers Today

Entry into truck ownership can be tough and expensive, and we understand most professional drivers may not have all the resources needed to get started. Leasing can be a welcome alternative to get you started down the path of truck ownership!

If you are thinking about partnering with a carrier company to lease your first truck, today is a great day to get started. Chief Carriers is a family-owned and nationwide trucking service that can support you and your career aspirations.

Contact us today to explore flexible leasing options and start the great lifestyle you have been searching for.